178,000 SF of Retail Space at "The Corner at Wall Street" Available for Lease

6 Jul, 2011, New York

Cushman & Wakefield today announced it has been retained as the exclusive retail leasing agent for "The Corner at Wall Street," a 178,000-square-foot block of prime retail space located at 23 and 35 Wall Street and 15 Broad Street in Downtown Manhattan's Financial District.

Constructed in 1914, the iconic landmarked property was once the headquarters of J.P. Morgan & Co. It is located directly across the street from two of the most visited historic landmarks in the city -- the New York Stock Exchange and Federal Hall (where President George Washington made his inaugural speech). The three interconnected buildings, which range from four to seven stories, are located at the southeast corner of Wall and Broad Streets.

23 Wall Street, recognized for its classical architecture, is linked to the neighboring Equitable Trust Building at 15 Broad Street, a 43-story condominium high-rise. 23 Wall Street's most recent use was as a banquet facility. The site is now available for the first time as a flagship retail opportunity. Currently, the only tenant on-site is the luxury retailer Hermes.

The site is being marketed for single or multi-tenant use by Cushman & Wakefield's Joanne Podell, executive vice president, and Matthew Seigel, senior director. JSR Capital is the owner's representative and manager of the property.

"The Corner at Wall Street is located at the virtual epicenter of the Financial District and the property is poised to become a destination shopping establishment," said Jona Rechnitz, principal of JSR Capital. "The appointment of Cushman & Wakefield to this project is significant, in part because of its global reach, and we are confident that the firm will provide the expertise and insight to bring the right tenant mix to the property."

"The Financial District has undergone a residential and retail rebirth and is recognized as a seven-day a week dining, shopping and tourist destination," said Ms. Podell. "The residential population has more than doubled in the past decade and it is home to young professionals and families alike. This submarket is among the most vital in Manhattan, offering some of the best dining, retail and historical establishments in the city."

"This is a once-in-a-lifetime flagship opportunity for retailers seeking global stature and recognition at one of the most visible corner locations in all of Manhattan," said Mr. Seigel. "Once occupancy reaches 100 percent, it is unlikely that this space will re-enter the market for a long time."

Ms. Podell added, "As one of the most transformational retail opportunities in the city, this property is equipped to be leased to a department store or for multi-tenant occupancy. With Hermes as a tenant in the building, it confirms the high-end market opportunities that are available and similar retailers are certain to follow suit."

For more information about the property, visit www.thecorneratwallstreet.com.

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